China, the world’s largest emitter of greenhouse gases, yesterday applauded the outcome of the historic UN climate conference that ended with an agreement that urges major polluters to make deeper emissions cuts — but does not require it.

Foreign Minister Yang Jiechi said the talks that brought more than 110 leaders together in Copenhagen produced “significant and positive” results.

The Obama administration yesterday also described the agreement as a “great step forward” — despite widespread disappointment that the pact does not include mandatory targets.

“Nobody says that this is the end of the road. The end of the road would have been the complete collapse of those talks. This is a great step forward,” White House adviser David Axelrod told CNN’s “State of the Union.”

The pact gives billions of dollars in climate aid to poor nations but does not require major polluters to make deeper cuts in their greenhouse-gas emissions.

Despite the lack of mandatory targets, Axelrod defended the agreement.

“Now, China, India have set goals. We’re going to be able to review what they’re doing We’re going to be able to challenge them if they don’t meet those goals,” he said.